HH CHALLENGES FINANCIAL INSTITUTIONS

By Paul Shalala:

President HAKAINDE HICHILEMA has challenged financial institutions to reduce their lending rates so that farmers can easily access capital to invest in their businesses.

President HICHILEMA is concerned at the high lending rates which are making it difficult for farmers to access capital.

Speaking when he officiated at the 2022 National Field Day in Kalenda area of Mpongwe District on the Copperbelt organized by Corteva Agri Science, President HICHILEMA said one of his priorities is to ensure farmers access finance.

The Head of State said one of the first meetings he had after being sworn in was to engage the financial institutions who he challenged to reduce their lending rates.

President HICHILEMA said his government is working hard to ensure people can access capital to invest in their businesses.

Meanwhile, President HICHILEMA said he is working towards making agriculture the center of Zambia’s economic revival.

President HICHILEMA said his government will invest more in agriculture because it can easily improve the economy.

Speaking earlier, Agriculture Minister REUBEN MTOLO declared that Zambia is food secure and there will be no hunger this year.

Mr MTOLO said currently, the Food Reserve Agency -FRA- has one point five million metric tonnes of maize in its reserves.

He said once the latest harvest which has two point seven million metric tonnes is added to the reserves, Zambia remains with a surplus of over one million metric tonnes.

And Corteva Agri Science Managing Director SAMSON NYENDWA urged farmers to partner with government and ensure Zambia becomes one of the top 20 producers of maize worldwide.

Mr NYENDWA said Zambia needs to increase its yield and start producing five million metric tonnes of maize yearly.

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